Brace yourself for worse ransomware attacks to come

SINCE May 12, reports have begun trickling in about what is arguably the biggest cyberattack in the world. The ransomware named "WannaCry" or WannaCrypt" has infected banks, hospitals and government agencies in more than 150 countries, exploiting known vulnerabilities in old Microsoft computer operating systems.

Affected Windows computers display a screen with a countdown timer and a request for a ransom to be paid in the Bitcoin cryptocurrency, before the victims can regain access to important company information.

As the payment is made in Bitcoins, the hackers remain anonymous, making it nearly impossible for them to be caught by the authorities.